UP2 Upwork Inc

update software AG (FWB:UP2), one of Europe�s foremost providers of premium CRM solutions with headquarters in Vienna achieved in fiscal 2007 the highest revenues and the best result in the company�s history, according to provisional figures. In 2007, revenues surged by a remarkable 39.3 percent to EUR 32.538 million. Operating income (EBIT) in 2007 rose against the corresponding figure one year earlier by as much as 51.9 percent: to EUR 3.705 million. This means that update is continuing along its path of success in an impressive fashion � after already achieving record figures in 2006 the company has, with its provisional figures for 2007, clearly exceeded the record-breaking revenue and profit figures once again. Growth in each of the three revenue segments is as follows: licensing operations +39.0 percent; services +42.7 percent; maintenance +33.9 percent. The strong growth in licensing operations is especially pleasing for update, as new licenses are an important indicator for a software producer of the agility and the fundamental health of the company. In Q4 2007 the upward trend at update was especially pronounced � in the case both of revenues and of profitability. With a growth of 46.2 percent versus Q4/2006 to EUR 10.464 million, and a rise in operating income by 41.7 percent to EUR 1.539 million, the fourth quarter of 2007 was the most successful quarter in the history of CRM producer update. Monika Fiala, CFO at update software AG, sees clear reasons for the excellent figures: �Our product strategy, namely of developing best of breed CRM solutions for the specific processes in individual sectors, is unmistakably the right one. We were highly successful in 2007, not least in the media and financial services sectors. For example, Gruner + Jahr Poland opted for our CRM solution update.seven, and we owe the biggest contract in our history to European financial services provider OVB: with 9,600 licenses in all of Europe.� update software AG will be sticking to its expansion course also in 2008. �In terms of region, we want to strengthen ourselves further in Southern Europe and in France,� remarks Monika Fiala, �while in Eastern Europe we will engage ourselves in the direction of Russia. Given our sound growth, even annual revenues of more than EUR 100 million in the next decade are both conceivable and realistic for us.� About update software AG Founded in Vienna in 1988, update software AG (www.update.com) is Europe�s leading provider of premium CRM solutions, with close to 300 employees and revenues of EUR 32.5 million in 2007 (preliminary profit unverified). update software AG is listed on the Frankfurt Stock Exchange. Today, update products are used by more than 150,000 users at over 1,300 companies. References include, among others, 3M, American Express Bank und Finanzmanagement, the Advertisements Department of the BILD newspaper group, AstraZeneca, BAWAG P.S.K., Canon, DuPont, ESTAG, K�rcher, LBS Nord, MagnaSteyr, Pernod Ricard, ratiopharm, Saint-Gobain Isover, Sony Deutschland, UnicreditBank Hungary as well as Sparkasse Bremen and 200 other German savings banks. update software AG cooperates with companies such as Atos Origin, Hewlett Packard, Sensix and Steria Mummert Consulting. Disclaimer: No information published here constitutes a solicitation or offer, or recommendation, to buy or sell any investment products or investment instruments, to effect any transactions, or to conclude any legal act of any kind whatsoever. Nothing contained in this�publication constitutes financial, legal, tax or other advice, nor should any investment or any other decisions be made solely based on the content of this publication. You should obtain independent advice from a qualified expert before making any investment decision. There may be further possible local restrictions�on the use of material, information and products, e.g. for United Kingdom or USA.